LONDON - ''Preservation of price stability and financial stability, continuation of reforms, provision of a sustainable growth, and integration of with European economies are among the medium and long term targets of Turkey,'' Turkish Central Bank Governor Sureyya Serdengecti said on Saturday.
Speaking at a conference organized by the Turkish Bankers' Association in London, Serdengecti said, ''a number of momentous reforms have been made in the Turkish economy in the last four years. As a result, inflation rate dropped to one-digit numbers, the Central Bank was granted autonomy, policies gained credibility, production increased, budgetary discipline was secured, and rates of unemployment dropped.''
''Since the Turkish economy well-integrated with the world economies, our real sector has a better atmosphere based on competition. Turkey's foreign trade volume has increased by 120 percent since 2001. Also, we succeeded in providing discipline in annual public expenditures. We have developed a sound budgetary policy. Turkey's foreign debt was about 161.7 billion USD in 2004. The rate of the debt to the gross national product is better than all new member states of the EU and the EU candidates except for Romania,'' he said.
He listed medium and long term targets of Turkey as preservation of price stability and financial stability, continuation of reforms, provision of a sustainable growth, and integration of with European economies, adding that those targets would be supported by the stand-by deal with the International Monetary Fund and the national economic program.
Serdengecti said that Turkey would continue making reforms especially in banking, tax, social security and public sector in the coming period.
''Turkey was treated unfairly. Result of the referendum in France over the EU constitution is the sign of the unresolved problems of Europe instead of a reaction to Turkey's EU membership,'' Serdengecti added.